Thursday, September 1, 2016

Oil & Gas: Digital Frontiers

Good friend Mr. Naveed Iftikhar sends along an article from McKinsey "The next frontier for digital technologies in oil and gas":

"Harnessing new technologies could boost efficiency—a mandate that’s especially important for oil and gas players globally."

The article states the obvious in layman terms. The oil and gas leadership that understands the imperatives discussed is already moving ahead. The ones who are tied up in cost cutting and "going back to the basics" have claims such as how can we even take the first step when the data is not organized and is in silos.

My company The RBR Group is currently engaged with the oil and gas leadership, which has chosen to quietly begin the leapfrog to machine learning, deep learning and cognitive computing. The next few years are going to be interesting if the oil price fluctuates significantly in either direction.